Hey reader, welcome to the ACE360 blog! Are you thinking about starting your own training organisation in 2023? The training industry is booming, making it a perfect time for aspiring entrepreneurs like you to dive into this rewarding field. But hold up!
To make your training organisation a roaring success, there are some important do’s and don’ts you should take into consideration! In this blog post, we’ve got your back with all the key factors to aim for and avoid while setting up a training organisation in 2023. Let’s start with ‘The Do’s’!
The Do’s When Setting Up A Training Organisation
Maximising Funding Opportunities
You’ve got to maximise available funding! It’s crucial for the initial setup and long-term growth of your training organisation. Look into government grants, sponsorships, and partnerships with private companies. And hey, don’t forget to invest in training your team too!
According to The Open University Business Barometer, organisations that invest in training see a 24% boost in productivity and have better chances of long-term success. Well, you knew that already – that’s why you’re setting up a training organisation!
Ensuring Adequate Expertise
It goes without saying, but your team needs to be top-notch! They’ve got to know their stuff inside out to effectively train others. Invest in professional development and training programs to keep them updated with all the latest industry trends and best practices.
Don’t just take our word for it – McKinsey & Company says a skilled team is key to driving successful training outcomes!
Emphasising Strategic Partnerships
You want to grow and succeed? Partner up, baby! Collaborate with businesses, educational institutions, and industry associations. This will expand your reach and get you access to a broader pool of learners and potential business partners.
Deloitte says strategic partnerships mean rapid growth and a more valuable position in the training market.
Staying Abreast of Political Developments
Keep an eye on the political scene! We know it can be hard to stay up to date, but Government decisions and policies can shake up the training landscape in the blink of an eye!
Stay informed about changes in regulations, funding schemes, and industry standards. That’ll help you adapt and align your goals accordingly.
Adopting an Effective EPA Management Platform
Time to make your life easier! Choose the right End-Point Assessment (EPA) Management Platform. ACE360 is a total winner in this department, offering an affordable and scalable solution, GDPR compliance, and efficient apprenticeship data management.
With ACE360 taking care of the admin stuff, you can focus on your passion for training, saving a lot of time and money in the process!
The Don’ts When Setting Up A Training Organisation
Rushing the Setup Process
Slow and steady wins the race! Enthusiasm is great, but don’t rush the setup process. Do thorough market research, develop a solid business plan, and understand your target audience’s needs.
Startup Genome says 74% of start-ups fail because of hasty scaling and not enough market research, so walk before you run!
Neglecting Compliance and GDPR
Cross those T’s and dot those I’s! Compliance is huge in the training industry. Make sure your organisation follows all the necessary legalities, including GDPR compliance, to protect your learners’ privacy and data.
Data breaches can cause major trouble! The good news? ACE360 can make this a breeze for you…
Think big, plan ahead! Don’t forget to consider scalability. You want to grow, right? Make sure your infrastructure, resources, and processes can handle the increasing demand you hope for in the future.
PwC says scalable start-ups are more likely to secure funding and achieve significant user growth, too!
Ignoring Continuous Improvement
Don’t get stuck in your ways! Embrace feedback from learners and stakeholders, and always keep improving your training programs. The Association for Talent Development (ATD) found that organisations investing in continuous improvement see 21% higher profitability. That’s pretty impressive!
In conclusion, starting a training organisation in 2023 is your ticket to growth and impact. Stick to the do’s and steer clear of the don’ts to establish a market-leading training organisation.
Focus on funding, build a killer team, form strategic partnerships, keep tabs on politics, and adopt a savvy EPA Management Platform like ACE360. With dedication, strategic planning, and the right tools, you’ll make a real difference in the training landscape and for your learners.
Pssst! Wanna learn more about ACE360 on one of our free webinars? Save your spot now while there’s availability!